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Dec 6, 2012
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come on, washington, that's ridiculous. how can the markets in switzerland, netherlands, germany do better than us? how is that possible? because of you, washington. it's because of you. we've been kept back all because of you. second, before our politicians stepped in with the intransigence and anger, we were about to have an explosion in earnings. retail was stronger than it was in a decade, autos back incredibly robust. and that's just the beginning. because all the pent up demand. we're running short of office buildings, shopping centers, apartments, homes, these are the hiring sectors, all this blather about helping the small businessman of subchapter "s" for private and middle class, you want to help them? give them a deal, any deal, just get out of our way for heaven sakes. our country is starting to get so competitive, again, that business is building things over there now want to build them there. tim cook tells brian williams that his company's going to make macs in this country. we're better than kmochina. meanwh
come on, washington, that's ridiculous. how can the markets in switzerland, netherlands, germany do better than us? how is that possible? because of you, washington. it's because of you. we've been kept back all because of you. second, before our politicians stepped in with the intransigence and anger, we were about to have an explosion in earnings. retail was stronger than it was in a decade, autos back incredibly robust. and that's just the beginning. because all the pent up demand. we're...
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Dec 3, 2012
12/12
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diana olick has it all for us from washington. >> tyler, numbers are coming down. in this case that's a good thing. 58,000 completed foreclosures in october according to core logic, down 25% from september which did see a big upward revision but still we're down 17% from a year ago. although we're still running at three times the historical norms. got to keep it real, people. anyway, california, florida, michigan, georgia and texas made up half of the foreclosures. the rest are new york, new jersey, illinois and nevada. four out of five are judicial states where you need a judge to sign off on each foreclosure. nevada seeing a big slowdown due to new laws there protecting borrowers. expect to see more of a drop in foreclosures in the coming months. both fannie mae and freddie mac announcing their usual foreclosure moratorium for the holidays. most banks halt foreclosures for 90 days in new york and new jersey. clear capital will release a report tomorrow showing home price gains weakening rather dramatically in november and they're warning all bets are off on housi
diana olick has it all for us from washington. >> tyler, numbers are coming down. in this case that's a good thing. 58,000 completed foreclosures in october according to core logic, down 25% from september which did see a big upward revision but still we're down 17% from a year ago. although we're still running at three times the historical norms. got to keep it real, people. anyway, california, florida, michigan, georgia and texas made up half of the foreclosures. the rest are new york,...
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Dec 30, 2012
12/12
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lus, people lac confidence in ever having any sound fiscal policy in washington. the stock market will do bes by us putting in place some much more conservative fiscal policies. >> okay. >> wait a minute, steve, is that you? is that you? (laughter) >> we can find common ground. we can find common ground. >> there's the kumbayah, okay, thanks, guys. well, forget all the talk in d.c. permanent tax hikes will definitely hit on tuesday no matter what. the cavuto gang getting ready to tell you what th government is ntelling you. that's at the bottom of the hour, first, angry passengers strandedn airports cursing the weather. but should they be cursingngngng your latest weather headlines, log on to foxnews.com. you're watching the most powerful name in news. >> canceled, that's what thousands of ticked off holiday travelers are sing on airport monitors this week. and while the nasty weather is to be blamed, toby says we should blame government regulations. >> here is a fact when it's a $27,000 fine if you're on the tarmac for more than three he hours in a minute which i
lus, people lac confidence in ever having any sound fiscal policy in washington. the stock market will do bes by us putting in place some much more conservative fiscal policies. >> okay. >> wait a minute, steve, is that you? is that you? (laughter) >> we can find common ground. we can find common ground. >> there's the kumbayah, okay, thanks, guys. well, forget all the talk in d.c. permanent tax hikes will definitely hit on tuesday no matter what. the cavuto gang getting...
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Dec 20, 2012
12/12
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>> yes. >>> anyway, let's get to washington news. house speaker john boehner is calling a vote on his so-called plan b. it would block tax increases on everyone january 1st except for those making more than $1 million. boehner hopes it will pressure the president to make concessions. >> he can call on the senate to pass that or he can be responsible for the largest tax increase in history. >> others are arguing that republics have painted themselves in a corner. >> take the deal. you are hurting people in order to give another advantage to folks who don't need help. and as of this morning, the fiscal cliff countdown, standing at 11 days. there it is on the board. we run it now even on the side of the screen during the day. it's one of the things, you say to yours, it is coming. >> theoretically. the end of the world countdown is one day. once we get through that -- >> we did pass that. >> we did. the journal has an interesting piece about small businesses. the president's plan would affect only 4%. but did you see how much of the inc
>> yes. >>> anyway, let's get to washington news. house speaker john boehner is calling a vote on his so-called plan b. it would block tax increases on everyone january 1st except for those making more than $1 million. boehner hopes it will pressure the president to make concessions. >> he can call on the senate to pass that or he can be responsible for the largest tax increase in history. >> others are arguing that republics have painted themselves in a corner....
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Dec 29, 2012
12/12
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plus, people lack confidence in ever having any sound fiscal policy in washington. the stock market will do best by us putting in place some much more conservative fiscal policies. >> okay. >> wait a minute, steve, is that you? is that you? (laughter) >> we can find common ground. we can find common ground. >> there's the kumbayah, okay, thanks, guys. well, forget all the talk in d.c. permanent tax hikes will definitely hit on tuesday no matter what. the cavuto gang getting ready to tell you what the government is ntelling you. that's at the bottom of the hour, first, angry passengers stranded in airports cursing the weather. but should they be cursing government regulations instead? >> from america's news headquarters, i'm heather childers. it's down to the wire for a fiscal cliff deal. senate leaders from both sides of the aisle vowing to scramble days before a new year's deadline to reach a plan or watch the economy go off a cliff. president obama says he's optimistic that they'll come to an agreement that will avoid across the board tax hikes and deep spending c
plus, people lack confidence in ever having any sound fiscal policy in washington. the stock market will do best by us putting in place some much more conservative fiscal policies. >> okay. >> wait a minute, steve, is that you? is that you? (laughter) >> we can find common ground. we can find common ground. >> there's the kumbayah, okay, thanks, guys. well, forget all the talk in d.c. permanent tax hikes will definitely hit on tuesday no matter what. the cavuto gang...
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Dec 13, 2012
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i don't think anybody wants to be in washington, d.c. for christmas dealing with this and i think that if we get to christmas and there's not a deal -- and they're not saying a deal will be done over the next couple of days, then i think you'll see people start to go buy options. i think the thing to watch to see if that happens is the vision. if the vix gets above 20, then we can see what's going on. >> you can always catch scott on options actions on friday afternoon. >> if you want comments on questions about anything you see here on "squawk box," e-mail us at squawk at cnbc.com or do the twitter thing. >> now you're like the recommended users. you should just tweet you direct. >> right. but you have had, what, 700 tweets, right? >> cramer, 26,000. >> carl like 8,000. >> carl is just -- he's a tweeting machine. >> puts pictures in and -- not like -- nice pictures, usually scenic pictures. still ahead, a former hockey great who went from superstar to down and out and now he's preaching fiscal responsibility. he's going to talk to us ab
i don't think anybody wants to be in washington, d.c. for christmas dealing with this and i think that if we get to christmas and there's not a deal -- and they're not saying a deal will be done over the next couple of days, then i think you'll see people start to go buy options. i think the thing to watch to see if that happens is the vision. if the vix gets above 20, then we can see what's going on. >> you can always catch scott on options actions on friday afternoon. >> if you...
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Dec 30, 2012
12/12
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you've been quite skeptical and skeicis seems the proper attitude given what history has shown us what washington can do. >> exactly, brenda. one of the reasons that jim alluded to, he said, look, we don't need to pay attention to the market. well, we need to pay attention to the psychology though. the market is one manifestcation of that, but it works in other things like retail spending over the holidays. people just fear this fcal cliff thing and they get scared and they tight in and they don't spend as much, i think y're going to see that when the final retail results come out from this past t holiday season. that's why iant something resolved. even if there's a big headline in theashington post, it's fiscal cliff resolved and nothing got done, people would feel better about things. >>oby, speak to that point. you don't think so, huh? >> was that the pablem strategy, gary? >> that's what we're going to get yway. >> six months ago we passed on the horrible sequestration things so congress can have time and solve this, where did it get us? nowhere. and there's a reason people don'trust this con
you've been quite skeptical and skeicis seems the proper attitude given what history has shown us what washington can do. >> exactly, brenda. one of the reasons that jim alluded to, he said, look, we don't need to pay attention to the market. well, we need to pay attention to the psychology though. the market is one manifestcation of that, but it works in other things like retail spending over the holidays. people just fear this fcal cliff thing and they get scared and they tight in and...
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Dec 11, 2012
12/12
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everyone knows washington has a spending problem. a big one. trillion-dollar deficits for the last four years, heading to our fifth year. everyone knows it's a spending problem. we've heard it a thousand times, we moms -- promise. i always tell folks, this is politicians making the promise. we promise, give us some more money and we'll use it to reduce the deficit and the debt. it never happens. so it's a joke to go down this road. you just can't. i know we're in a tough situation because of the decisions made in the past, on january 1 taxes go up. well, you know what? that's because we made bad decisions in the past and here we are. but that doesn't mean you change and go against the things you know work and will actually solve the problem. so of course you can't be for that because, a, it's bad policy. it's not going to help grow our economy which is what we need. it's not going to create jobs. and politicians, you can't trust them. particularly the guys in congress, for goodness sake. you cannot go there. >> and you got to go back and look h
everyone knows washington has a spending problem. a big one. trillion-dollar deficits for the last four years, heading to our fifth year. everyone knows it's a spending problem. we've heard it a thousand times, we moms -- promise. i always tell folks, this is politicians making the promise. we promise, give us some more money and we'll use it to reduce the deficit and the debt. it never happens. so it's a joke to go down this road. you just can't. i know we're in a tough situation because of...
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Dec 4, 2012
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jeff, what do you make of what's going on in washington? i'm most interested in the fact that the markets have lost the volatili volatility. we're not seeing the markets respond to every single statement that comes out of washington right now. what do you make of that? >> i think it's the same washington waltz we saw last year. they didn't extend the bush tax cuts until december 17th. they didn't handle the payroll tax until december 23rd. i lived inside the beltway. i have a pretty good network on the hill. i think they're going to have some kind of staged in agreement and then agree to attack the entitlement situation in the new year. >> michael, what do you make of what's going on? how do you try and trade this? at least we had some volatility the traders could trade on. now we don't have that. >> i think the lower volatility is telling you this is an extremely resilient stock market. i've been calling this the rocky balboa stock market. the entire scenario playing out is the fiscal cliff ends up being bullish no matter what. spending cu
jeff, what do you make of what's going on in washington? i'm most interested in the fact that the markets have lost the volatili volatility. we're not seeing the markets respond to every single statement that comes out of washington right now. what do you make of that? >> i think it's the same washington waltz we saw last year. they didn't extend the bush tax cuts until december 17th. they didn't handle the payroll tax until december 23rd. i lived inside the beltway. i have a pretty good...
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Dec 12, 2012
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he is in washington, where he himself scaled the georgian columns of the fed building. he is here with a preview. steve, what can we expect from the final fed decision of 2012? >> as you know, brian, i run a spdr line from the monument. that's how we get up here. this is really a historic day, and i think the market really hasn't focused on it. the fed's balance sheet is really about to explode. you just gave the numbers. i want to do the math on the numbers really quickly. we're asking qe4 what today. the current purchases are $40 billion of mortgage backed securities. they're going to replace operation twist with $45 billion. add it up, that's a total of $85 billion a month. what happens when you annualize that? the existing level of the balance sheet is $2.8 trillion. the expected growth, 85 times the 12 right there. it's going to be up by a trillion by the end of the year if they maintain the pace. well, the level at the end of the year is going to be $3.8 trillion. compare that with the balance sheet before the crisis began of $800 billion. so we're going to add on
he is in washington, where he himself scaled the georgian columns of the fed building. he is here with a preview. steve, what can we expect from the final fed decision of 2012? >> as you know, brian, i run a spdr line from the monument. that's how we get up here. this is really a historic day, and i think the market really hasn't focused on it. the fed's balance sheet is really about to explode. you just gave the numbers. i want to do the math on the numbers really quickly. we're asking...
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Dec 17, 2012
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you might have some news from washington as well. a white house official telling nbc news that the president and house speaker boehner are meeting at the white house as we speak to discuss the fiscal cliff. dow popped on that news when it first broke on some of the wires. currently sitting close to highs of the session up about 85 points. want to bring you the latest details on the newtown connecticut shootings. the town is grieving after the horrific events at sandy hook elementary on friday that left 20 children dead. danielle leigh is live in newtown with the latest. >> good morning. and today is the beginning of a very hard week ahead as families begin saying good-bye to their loved ones and burying those victims who did not survive this tragedy. the first funeral will be today for those victims, starting very soon. the first for 6-year-old nora whose twin sister survived the shooting in a different classroom and 6-year-old jack pinto who was a big new york giants fan. these parents burying their children, something no parent sho
you might have some news from washington as well. a white house official telling nbc news that the president and house speaker boehner are meeting at the white house as we speak to discuss the fiscal cliff. dow popped on that news when it first broke on some of the wires. currently sitting close to highs of the session up about 85 points. want to bring you the latest details on the newtown connecticut shootings. the town is grieving after the horrific events at sandy hook elementary on friday...
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Dec 7, 2012
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>> that's washington state and not washington d.c. >> sorry. >> it's different in colorado. it's only 15% exise tax in colorado. the market needs to shake itself out. at this point there's a huge additional cost built into the price of marijuana based on the fact that it's sold in a criminal market. once it is licensed and regulated, the price will certainly go down to some extent. >> how confident are you -- you talk about setting up a regulated functioning market for weed as if you just snapped your fingers. how do you make sure this stays out of the hands of those who are under 21? >> well, we've seen in colorado already a fully regulated market that is serving 120,000 medical marijuana patients and no reports of any marijuana being diverted from those stores to teens and moreover while the use of marijuana among teens has gone up 11% nationally, it's actually gone over the past two years 11% in colorado. so what we see is a regulated market that can keep marijuana out of the hands of teens and we hope the federal government and president obama don't stand in the way of p
>> that's washington state and not washington d.c. >> sorry. >> it's different in colorado. it's only 15% exise tax in colorado. the market needs to shake itself out. at this point there's a huge additional cost built into the price of marijuana based on the fact that it's sold in a criminal market. once it is licensed and regulated, the price will certainly go down to some extent. >> how confident are you -- you talk about setting up a regulated functioning market for...
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Dec 6, 2012
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it's all on washington. i was impressed with yesterday the market was able to hold on to an advance in the face of apple. i think that boded pretty well. >> well, i think that's true but i think apple is a situation and issue unto itself. right? certainly it affects -- you saw what it did to the nasdaq yesterday. but for the broader market i think it does say a lot for the strength of the broader market in terms what have it wants to see. it wants to see the resolution. whether apple goes up or down. if we get a resolution of the fiscal cliff or the sense that we will, i think the market will respond to the up side. >> the market has the federal reserve behind it and the ecb behind it. we saw today not much came out of the ecb. everything, bond yields are down, stock markets, global markets are holding up very, very well right now. >> they're all waiting in this holding pattern, too. >> chinese takeout for dinner tonight. thanks, have a safe trip, kenny. >>> to the bond market, rick santelli tracking market.
it's all on washington. i was impressed with yesterday the market was able to hold on to an advance in the face of apple. i think that boded pretty well. >> well, i think that's true but i think apple is a situation and issue unto itself. right? certainly it affects -- you saw what it did to the nasdaq yesterday. but for the broader market i think it does say a lot for the strength of the broader market in terms what have it wants to see. it wants to see the resolution. whether apple goes...
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Dec 19, 2012
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john harwood in washington. chief market strategist with russell investments joining us here at post 9, and the chief national investment strategist with wells fargo advisers. good morning to both of you. >> good morning. >> how does this weigh on your thesis for the near term? >> the question is in the details. our base case for the russell forecast is we do not have a recession in 2013. the majority of these larger issues are dealt with. but there's going to be a fiscal drag either way. the way we see this at housing contributing in a positive to the economy, offset a lot of the fiscal destabilizers. but i think there's a lot of overlap right now. they're squabbling over details. i think we need to keep in perspective, this is the first time in america we've m a serious substantive conversation about balancing the budget. it's not a bad first start. >> next year you're looking for 1,500 by year end? >> that's our target sale. single digits for the equity market seems reasonable. no great shakes. >> paul, you'r
john harwood in washington. chief market strategist with russell investments joining us here at post 9, and the chief national investment strategist with wells fargo advisers. good morning to both of you. >> good morning. >> how does this weigh on your thesis for the near term? >> the question is in the details. our base case for the russell forecast is we do not have a recession in 2013. the majority of these larger issues are dealt with. but there's going to be a fiscal drag...
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Dec 31, 2012
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>> i think washington, d.c. everyone. rs everyone. i think what joe mentioned yesterday is exactly right. people are looking at washington and seeing a dysfunctional city, dysfunctional government and we've got to prove them different and we've got, i think, we've got two to three months to really do something significant. you know, the campaign to fix the debt, which is bipartisan, greg and bloomberg and i are co-claire, we've been calling for them to do something big. they had seven weeks to do something big, and they didn't. they kicked the can down the road. >> they add decade to do something big. jimmy, listen, we are heading into the nur yeanew year, it is time for forgiveness. i will defend congress for a second. i was thinking about this last night, right? they are in an impossible tossing. if they say, i'm sorry, you won't get everything promised. period. next election they are go gone because someone will step up and say, sure, i will give you everything. i don't know how i'm going to pay for it. so i feel a little bad for c
>> i think washington, d.c. everyone. rs everyone. i think what joe mentioned yesterday is exactly right. people are looking at washington and seeing a dysfunctional city, dysfunctional government and we've got to prove them different and we've got, i think, we've got two to three months to really do something significant. you know, the campaign to fix the debt, which is bipartisan, greg and bloomberg and i are co-claire, we've been calling for them to do something big. they had seven...
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Dec 1, 2012
12/12
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the one thing we're getting is a runaway spending in washington, d.c. that's the effect of this unlimited print mag sheen that the federal reserve has. >> let's put some gold into the equation. gold as legal tender. thanks very much to shawn fowler. now speaking of gold, thieves impersonating policemen boarded a boat in curacao and stole 70 gold bars worth an estimated $75 million. sounds like a thriller. authorities say there were six thieves wearing jackets with patches saying police who assaulted the captain and took off the gold in three cars. authorities say the shipment was legal but won't say who owned the gold or where it was headed. now, let's turn and do some stock market work. consumer spending fell in a new report out today. so did real disposable income. could have something to do with superstorm sandy. weak in yesterday's third quarter gdp report. profits, and these are the broadest gdp profits, covering about 5 million large and small companies really came in pretty good in the third quarter. up 9% from a year ago. so even though business
the one thing we're getting is a runaway spending in washington, d.c. that's the effect of this unlimited print mag sheen that the federal reserve has. >> let's put some gold into the equation. gold as legal tender. thanks very much to shawn fowler. now speaking of gold, thieves impersonating policemen boarded a boat in curacao and stole 70 gold bars worth an estimated $75 million. sounds like a thriller. authorities say there were six thieves wearing jackets with patches saying police...
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Dec 14, 2012
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with brian moynihan in washington. laying out a frimwork where mortgage deduction is not hurt, or not taken away, not limited by any means by capitol hill. >> there's a lot of worries about the interest margin for all the banks. the banks did well. it's an inexpensive stock. >> and monster run the past year 689 monster run. >> huge run. countrywide did not. ever since buffett -- buffett is a brilliant investor. warren buffett got that preferred. called the bottom on the bank of america. >> dow sitting on a four-point gain. apple not that far away from the november lows of 505. last check at 514. here's what's next on "squawk on the street." >> coming up, before you start taking off your friday trades, listen to what cramer says. don't worry, it will only take a minute. 6 stocks in 60 minutes, "squawk on the street" will be right back. with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at
with brian moynihan in washington. laying out a frimwork where mortgage deduction is not hurt, or not taken away, not limited by any means by capitol hill. >> there's a lot of worries about the interest margin for all the banks. the banks did well. it's an inexpensive stock. >> and monster run the past year 689 monster run. >> huge run. countrywide did not. ever since buffett -- buffett is a brilliant investor. warren buffett got that preferred. called the bottom on the bank...
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Dec 30, 2012
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george washington would not kneel to pray. when his pastor rebuked him for setting a bad example, washington mended his ways. he stayed away from church on communion sundays. no ministers were present and no prayers were said when he died. washington had proclaimed that religion and morality are indispensable supports for political prosperity. he said that "reason and experience both were best to expect that morality can prevail in exclusion for religious principles. the longer john adams lived, the shorter grew his creed. in the end, it was unitarianism. jefferson wrote those ringing words of the declaration, but jefferson was a utilitarian when he urged his nephew to inquire into the truth of christianity. "if it ends in a belief that there is no god, you'll find virtue in the comforts and pleasantness you feel in virtue's exercise." james madison always explained away religion as an innate appetite. the mind, he said, prefers the idea of the self existing clause to an infinite series of cause and effect. even the founders w
george washington would not kneel to pray. when his pastor rebuked him for setting a bad example, washington mended his ways. he stayed away from church on communion sundays. no ministers were present and no prayers were said when he died. washington had proclaimed that religion and morality are indispensable supports for political prosperity. he said that "reason and experience both were best to expect that morality can prevail in exclusion for religious principles. the longer john adams...
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Dec 7, 2012
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our chief washington correspondent john harwood is here with the latest. >> reporter: we ended the week with a fairly perfect, simple, clear, elegant expression of the partisan differences in this fight. speaker boehner came out and gave a press conference where he essentially said president obama has done nothing to compromise with republicans. here's the speaker. >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the fiscal cliff. >> reporter: not surprisingly, democratic house leader nancy pelosi had precisely the opposite explanation for what is behind this stalemate. she says republicans simply echoing the white house are going to have to buckle on the issue of the top rates. >> the only obstacle standing in the way of middle income tax relief are the republicans unwillingness to ask the top 2% to pay their fair share. >> but tyler, as yo
our chief washington correspondent john harwood is here with the latest. >> reporter: we ended the week with a fairly perfect, simple, clear, elegant expression of the partisan differences in this fight. speaker boehner came out and gave a press conference where he essentially said president obama has done nothing to compromise with republicans. here's the speaker. >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since...
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Dec 31, 2012
12/12
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the washington regional alcohol program says deaths spiked by 60% on new year's eve. it's offering free cab rights home up to $30. the last new year's eve nearly 400 people took vang of the songer ride program. >>> a gray way to enof day, but nice look sunset. >>> storm team 4 meteorologist doug kammerer is here to tell us what to expect. >> you know it will be on the cool side as we end 2012, heading into 2013. i think it should be dry for most of us, though they are seeing a few flurries, a sprinkle, even a report of sleet. >>> it does look lie the storm system is trying though move our way. we'll talk much more about it, but here's what to expect. maybe a sprinkle or flurry, but around midnight, 36 degrees as we usher in the new years, starting off on a very chilly note. we'll talk about some of the coldest air so far this season, plus chances for rain and snow. >> why are you hoarse, doug? a little scratchy throat there? ♪ hail to the redskins >>> the redskins are the talk of the town. fans said they couldn't be happier. a lot of them were also excited that, wit
the washington regional alcohol program says deaths spiked by 60% on new year's eve. it's offering free cab rights home up to $30. the last new year's eve nearly 400 people took vang of the songer ride program. >>> a gray way to enof day, but nice look sunset. >>> storm team 4 meteorologist doug kammerer is here to tell us what to expect. >> you know it will be on the cool side as we end 2012, heading into 2013. i think it should be dry for most of us, though they are...
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Dec 16, 2012
12/12
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everyone knows washington has a big spending problem. we're heading to our fifth year of $1 trillion debt. we have heard 1000 times we promise. these are politicians making the promises. we promise, and give us more money, and we will use it to reduce the deficit and debt. never happens. it is a joke to go down this road. i know we are in a tough situation because of decisions made in the past. on january 1, taxes go up. that is because we made bad decisions in the past. here we are. that does not mean you go against the thank you no work that will solve the problems. you cannot do that because it is bad policy. it will not help to grow the economy or create jobs. the problem is you cannot trust them, particularly the guys in congress. you just cannot go there. >> you have to go back and look historically. we have done this. we have never found a time in modern history where raising taxes led to a balanced budget. it has never happened. we found a number of areas -- the president likes talking about, he and bill clinton have a great affi
everyone knows washington has a big spending problem. we're heading to our fifth year of $1 trillion debt. we have heard 1000 times we promise. these are politicians making the promises. we promise, and give us more money, and we will use it to reduce the deficit and debt. never happens. it is a joke to go down this road. i know we are in a tough situation because of decisions made in the past. on january 1, taxes go up. that is because we made bad decisions in the past. here we are. that does...
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Dec 12, 2012
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we spend too much in washington. we at the reform and time programs to save and protect social security. those are the area of the budget that have to be restructured. perhaps even more important -- where is the president? he is out on the campaign trail. every day we are a little bit closer to the fiscal cliff. every day republicans are here, speaker boehner is here, leader mcconnell is here. ready for business, ready to do something that will avoid what everybody agrees would be a disaster and yet the president seems to be content with traveling of around the country, doing a victory lap or something when he should be here sitting across the table from the people who can help us avoid a bad situation for our country economically. mr. president, you said it. we agree with that. now let's get to work and try to fix it. >> for people who spent a lifetime building a small business, small communities have a florist or a cleaners, those businesses will be impacted. many of them will not be able to continue to hold that b
we spend too much in washington. we at the reform and time programs to save and protect social security. those are the area of the budget that have to be restructured. perhaps even more important -- where is the president? he is out on the campaign trail. every day we are a little bit closer to the fiscal cliff. every day republicans are here, speaker boehner is here, leader mcconnell is here. ready for business, ready to do something that will avoid what everybody agrees would be a disaster...
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Dec 5, 2012
12/12
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this is new video from washington. members only. membership has its privileges. we're 26 days away from going over the fis calf cliff and these are members of the house of representatives walking out. they're going home. no session tomorrow, long weekend. they need a rest. i hope someone can explain this to me. >>> the bears taking a big bite out of apple computer today. the stock getting hammered. has apple lost its mojo or does the company still have room to run? >>> and city, the big slash. knife coming down on 1,000 jobs. the cfo is set to speak about the shake-up right now and we will have the very latest on this very widely held stock which has been moving higher tod today. >>> we have a rally on our hands despite some downward pressure in apple. two of the biggest names in the most widely held stocks around, citi and apple topping the news this hour. headlines aren't good. apple right now is down about 4%. back in bear market territory, down 22% from their historic intraday high of $705 set back in september. right now shares are trading at $551.33. bob pi
this is new video from washington. members only. membership has its privileges. we're 26 days away from going over the fis calf cliff and these are members of the house of representatives walking out. they're going home. no session tomorrow, long weekend. they need a rest. i hope someone can explain this to me. >>> the bears taking a big bite out of apple computer today. the stock getting hammered. has apple lost its mojo or does the company still have room to run? >>> and...
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Dec 11, 2012
12/12
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, bringing people from outside washington into washington. it depends from city-to-city. boston business leaders are interested in health care. miami, transportation, san diego, international -- an intellectual property -- it varies from city-to-city. in terms of immigration reform, what we have seen as different sectors of the economy look at immigration differently. the high-tech community is looking at bringing in more high-skilled workers or keeping graduates in the united states to help them with challenges in computer sciences, for example, or health sciences. you have the hotel industry and the airline industry focused on trying to make sure that travel visas are administered more efficiently so we can bring in more tourists to spend more money. you have the industry sectors with an interest in immigration. our view is immigration reform will be a big issue in 2013 and you will see big companies across sectors working together, combining shared interests to get something done. host: here is a tweet from one of our viewers -- how does t
, bringing people from outside washington into washington. it depends from city-to-city. boston business leaders are interested in health care. miami, transportation, san diego, international -- an intellectual property -- it varies from city-to-city. in terms of immigration reform, what we have seen as different sectors of the economy look at immigration differently. the high-tech community is looking at bringing in more high-skilled workers or keeping graduates in the united states to help...
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Dec 1, 2012
12/12
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keep tax the same for 98% of americans and raise the debt celling so we can at least for a year put washington in the rear-view mirror. wow, can you believe that? there'll be some spending cuts to appease republicans, too, once they've bothered to identify the cuts they actually want! as much as some may believe that there's no incentive to rise above partisanship, the dramatic rates of income of these fiscal rates give to tens of millions of americans who happen to be voters. of the 2 million jobs that could be lost, 1 million of them will most likely comes from the defense sector. at a time when china is rising. you see those planes land on that aircraft carrier this week? the middle east is boiling. i don't know. did we really want that big defense budget cut? i mean, maybe nothing more than the decline in spending is the war in afghanistan winds down. saving about half a trillion dollars over the time. maybe more. the areas where the defense job losses take place they look mighty red to me, at least on the electoral map. yes, you'll have to say goodbye to the fabulous 15% dividend rates go
keep tax the same for 98% of americans and raise the debt celling so we can at least for a year put washington in the rear-view mirror. wow, can you believe that? there'll be some spending cuts to appease republicans, too, once they've bothered to identify the cuts they actually want! as much as some may believe that there's no incentive to rise above partisanship, the dramatic rates of income of these fiscal rates give to tens of millions of americans who happen to be voters. of the 2 million...
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Dec 5, 2012
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today's top story, a washington standoff continuing. fiscal cliff negotiations appear to be going nowhere. today president obama will meet with members of the business round table. plus, on the economic calendar, the november adp report on employment is due at 8:15 eastern. u.s. equity futures at this hour are indicated higher. not much happened yesterday. it's wednesday, december 5th, 2012, and "squawk box" begins right now.
today's top story, a washington standoff continuing. fiscal cliff negotiations appear to be going nowhere. today president obama will meet with members of the business round table. plus, on the economic calendar, the november adp report on employment is due at 8:15 eastern. u.s. equity futures at this hour are indicated higher. not much happened yesterday. it's wednesday, december 5th, 2012, and "squawk box" begins right now.
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Dec 3, 2012
12/12
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in washington, posturing politics and high-stakes poker with america's economy at stake. president obama's initial offer on the fiscal cliff was resoundingly rejected by republicans. it included a $1.6 trillion tax increase, double what he campaigned on. also included $400 billion in entitlement cuts eliminating the need for congressional approval to a raise the debt ceiling. the markets rebounded later in the week following the latest hopes on a fiscal cliff agreement. america's economy grew at a faster pace than initially expected in the third quarter of the year. the second reading of the gross domestic product showed it at rate of 2.7% spurred by stronger inventories and exports. the securities and exchange commission is looking for a new chairman. mary shapirp schapiro announcin she will step down after nearly four years on the job. the obama administration says it will announce a replacement in the near future. >>> starbucks has a new way to spend a lot of money. it is introducing the most expensive blend made from a rare costa rican variety named geisha. it is $7 a
in washington, posturing politics and high-stakes poker with america's economy at stake. president obama's initial offer on the fiscal cliff was resoundingly rejected by republicans. it included a $1.6 trillion tax increase, double what he campaigned on. also included $400 billion in entitlement cuts eliminating the need for congressional approval to a raise the debt ceiling. the markets rebounded later in the week following the latest hopes on a fiscal cliff agreement. america's economy grew...
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Dec 3, 2012
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and it's the way washington used to work. people used to socialize together, whether they were democrats or republicans. they built an entire notion on the company that you can get democrats and republicans to work together to solve business and brand challenges. that's the key issue. >> they don't know each other. they don't socialize each other. there's a taint with doing it. let me give you an idea. we've got a fiscal cliff now. we have the fiscal abyss next year. we need to say, don't come home. no deal, no break. members should be in washington at least five days a week like every other american and not leave until they deal with the fiscal cliff this year or until we get a grand bargain next year. they would pull off seven times more days -- >> david faber tweeted this morning that they should be locked in a room and forced to listen to the animal orchestra until they have a deal. >> david faber's hair. >> you put them in a room. you tell them they're going to sit there until the deal is done. day three, no more food. d
and it's the way washington used to work. people used to socialize together, whether they were democrats or republicans. they built an entire notion on the company that you can get democrats and republicans to work together to solve business and brand challenges. that's the key issue. >> they don't know each other. they don't socialize each other. there's a taint with doing it. let me give you an idea. we've got a fiscal cliff now. we have the fiscal abyss next year. we need to say, don't...
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Dec 25, 2012
12/12
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it's not just washington, not just the egos. there are real consequences all across the nation. >> talk about trickle down. phil, thanks so much. >>> stocks closed early today ahead of the christmas holiday, but wall street had enough time to lose ground amid worries that lawmakers won't reach a budget deal by next week nasdaq and s&pa hundred also down. >>> police in new york say it was a set up. two firefighters responding to a call were kill bid an excon. cbs reporter jennifer lewis hall shows us how he lured them in. >> firefighters rushed to this early morning fire near rochester new york and were met by bullets. police say 62-year-old william spengler lit a home and car on fire so he could lure first responders to the scene and shoot them. two webster firefighters were killed in the ambush. two more were injured. with crews under attack the flames burned out of control jumping from home to home. >> i'm not aware of anything like this in my 23 years in the to be of webster. >> police say soon after the s.w.a.t. team arrived
it's not just washington, not just the egos. there are real consequences all across the nation. >> talk about trickle down. phil, thanks so much. >>> stocks closed early today ahead of the christmas holiday, but wall street had enough time to lose ground amid worries that lawmakers won't reach a budget deal by next week nasdaq and s&pa hundred also down. >>> police in new york say it was a set up. two firefighters responding to a call were kill bid an excon. cbs...
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good afternoon welcome to capital account i'm lauren lyster here in washington d.c. these are headlines for friday december fourteenth two thousand and twelve whether it is going over the fiscal cliff or spanish house prices suffering a severe fall there seems to be a universal fear a financial fear of gravity we're scared of falling but ironically we don't seem to have much fear of altitude push should we jim grant founder and publisher of grant's interest rate observer is here to offer his my monthly outlook plus voters in japan head to the polls sunday to cast their ballots and parliamentary elections and if recent polls are any indication they look set to elect shinzo all babies leader of japan's main opposition party he said to be the next prime minister in the face of technical recession and weak exports in that country he is demanding the make of japan begin unlimited q.e. yes i know japan has been deflated for the past twenty five years so why should we pay attention to this call from a politician today we'll ask our guests plus we had a tremendous response f
good afternoon welcome to capital account i'm lauren lyster here in washington d.c. these are headlines for friday december fourteenth two thousand and twelve whether it is going over the fiscal cliff or spanish house prices suffering a severe fall there seems to be a universal fear a financial fear of gravity we're scared of falling but ironically we don't seem to have much fear of altitude push should we jim grant founder and publisher of grant's interest rate observer is here to offer his my...
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Dec 12, 2012
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he's not willing to check the heart at washington's door. all right. come on, this show's about making money, cramer. not a cardiology exam versus ben bernanke and the president and congress. it's the most valuable thing you can do to keep the bull market from running out of steam. as part of a long term analysis of the stock market that i've been working on pretty much every night knight at home, if needed to know one number, one piece of data to predict the market you would choose the unemployment rate. when the unemployment rate is going lower and jobs are being created, the positive signs. the congress of course is true, too. now, the problem at the moment isn't with the fed it's with the executive branch and the legislature. the presidential intransigence as well as no new tax pledge to grover norquist, republicans won't miss tax hikes to make a deal. the president is nothing serious when it comes to spending at all. nothing! so it looks like the cliff jumps ahead of us after my trip to washington. that was a tough day. had to take a couple shower
he's not willing to check the heart at washington's door. all right. come on, this show's about making money, cramer. not a cardiology exam versus ben bernanke and the president and congress. it's the most valuable thing you can do to keep the bull market from running out of steam. as part of a long term analysis of the stock market that i've been working on pretty much every night knight at home, if needed to know one number, one piece of data to predict the market you would choose the...
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Dec 10, 2012
12/12
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bill: steve centanni follows up in washington. what can we report about this rescue machine? >> reporter: good morning bill. it took place early sunday after intelligence revealed the kidnapped american was in imminent danger of injury or death. dr. joseph is a medical advice sore for a group called "morningstar" development based in colorado springs. it is a group that helps rebuild communities in afghanistan. the doctor was not injured. this happened in eastern kabul province. they were abducted by a group of five men while returning to a visit at a medical clinic. an isaf spokesman describes the rescue effort. >> it was a combined operation in order to rescue this individual doing that operation. seven of those captures were killed. and the task force decided to start the operation since the assessment was there was imminent danger of injury or death to the individual. >> reporter: the identity of the other two aid workers has not been released, bill. bill: what more about the knave very seal killed during this operation, steve? >> reporter: his identity is not released wh
bill: steve centanni follows up in washington. what can we report about this rescue machine? >> reporter: good morning bill. it took place early sunday after intelligence revealed the kidnapped american was in imminent danger of injury or death. dr. joseph is a medical advice sore for a group called "morningstar" development based in colorado springs. it is a group that helps rebuild communities in afghanistan. the doctor was not injured. this happened in eastern kabul province....
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Dec 5, 2012
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while we wait for washington to strike a deal, jim's making sure you're ready when he plays, am i diversified. plus wooin garten realty ahead with jim. we have your first look at tomorrow when we come back. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm happy. i'm happy. i'm happy. i'm happy. happy. happy. happy. happy. (together) happy. i love logistics. we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 50
while we wait for washington to strike a deal, jim's making sure you're ready when he plays, am i diversified. plus wooin garten realty ahead with jim. we have your first look at tomorrow when we come back. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our...
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Dec 10, 2012
12/12
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i know everybody's hostage to washington these days. there's some trends that can trump the government, health and wellness maybe? breaking up is easy to do stories. better than expected retailers, in the end when it come to the fiscal cliff, to the longer we delay a deal or can't do a deal at all, it's worse for all the shareholders and the investors and the stock market. yes, a deal that does nothing, it simply keeps taxes where they are right now and doesn't cut entitlements, that's what everybody wants. does matter, believe he, i mean what's going to happen if we do nothing except keep things exacthe they are now, and just vote to undo the cliff. they'll downgrade the u.s. debt. but that's it. by the way, we have already proven through nine ways of sunday that -- when our credit rating got downgraded last summer. well, bonds went up in price and down in-year-old. -- in yield. so why not do nothing? why doesn't the president say we're just going to keep bonds the way they are. and we're not going to cut entitlements because we know i
i know everybody's hostage to washington these days. there's some trends that can trump the government, health and wellness maybe? breaking up is easy to do stories. better than expected retailers, in the end when it come to the fiscal cliff, to the longer we delay a deal or can't do a deal at all, it's worse for all the shareholders and the investors and the stock market. yes, a deal that does nothing, it simply keeps taxes where they are right now and doesn't cut entitlements, that's what...
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Dec 23, 2012
12/12
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you can have washington d.c. stepping in and more federal innervention than we have right now . with all of the stuff. pet projects and in a way to help victims of super storm sandy. was a big scare but no injuries. here we go again. a bill intended to aid super storm sandy victims . this has spending hawks peeves. explain your flip side. >> i have no problem but i will say it is more important to thwart than haggle in congress. i live in loir manhattan and we have seen problems with super storm sandy. we have businesses that are close not reopening and this is happening in areas hit by the storm. the vital thing is to get the money flowing and more important than congress hagsling. snurkswe need to swallow pork to get what we need. >> no, we don't. you look at sandy spending bill if dc got hit and not new york or new jersey . two weeks after cat can the hit the new orleans area. that area got money. we are still waiting because it is hung up by pork. you are seeing 3 billion to pair or fix and new cars for the fbi and new trees in cemeteries and silly things like that. it is pr
you can have washington d.c. stepping in and more federal innervention than we have right now . with all of the stuff. pet projects and in a way to help victims of super storm sandy. was a big scare but no injuries. here we go again. a bill intended to aid super storm sandy victims . this has spending hawks peeves. explain your flip side. >> i have no problem but i will say it is more important to thwart than haggle in congress. i live in loir manhattan and we have seen problems with...
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Dec 23, 2012
12/12
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and we've switched around, but we've worked real well together in washington. he's a great senator. does a good job on so many different issues. so i've been proud to serve with him and i'll continue to work with him from my approach over at the heritage foundation. tim, i feel the same way you do about our congressional delegation. i could not be prouder of our state for sending folks like this to stand in washington and fight for the right ideas. and they've certainly done it with a lot of integrity and courage and a wonderful man of character. i greatly appreciate it. it's been the honor and privilege of my life to serve the people of south carolina and the united states senate. debbie and i and my whole family are so thankful for the encouragement and support over the years. everywhere we go people just grab our arms and say, "thanks for fighting, we're praying for you." and so often i hear people say, "what can i do?" people in this state want to make a difference, and it really has inspired me to take that idea all around the country, and by doing that i have seen that if we t
and we've switched around, but we've worked real well together in washington. he's a great senator. does a good job on so many different issues. so i've been proud to serve with him and i'll continue to work with him from my approach over at the heritage foundation. tim, i feel the same way you do about our congressional delegation. i could not be prouder of our state for sending folks like this to stand in washington and fight for the right ideas. and they've certainly done it with a lot of...
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we have a problem in washington. a president who is addicted to spending, a congress that is addicted to spending. and we need to have an intervention. and that instervention that to come from people in washington who understand the problem. and they have to say no to all of this. unfortunately, the one place that can happen is the house, and it is not happening. neil: one thing -- you and i might disagree -- but i think that elections do have consequences, the american people since seem to support they want to stick it to the rich, i do not agree with that i think that hoops that republicans are going through to find an alternative to raising raters on clinton era rates. it could get so ca complicated d get worse. when you talk mortgages and charities and everything else. why not raise rates on rich, fight for a simp her tax system that -- simpler tax system that might provide lower taxes down the road. >> well we need to demand concessions on spending. neil: we're not getting them. >> that is the point, so putting
we have a problem in washington. a president who is addicted to spending, a congress that is addicted to spending. and we need to have an intervention. and that instervention that to come from people in washington who understand the problem. and they have to say no to all of this. unfortunately, the one place that can happen is the house, and it is not happening. neil: one thing -- you and i might disagree -- but i think that elections do have consequences, the american people since seem to...
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Dec 19, 2012
12/12
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brad in washington, brad? >> caller: hey, jim, merry christmas boo-yah from washington. >> kirkland, hey, i like kirkland brand from costco. >> caller: yes, indeed. well, i had a question about another pacific northwest company, gbx, green breyer. >> i think the stock is inexpensive. i don't know whether -- i don't know who comes back, but i've got to tell you, i do a lot of work with the railroads and we need a lot of cars. i think this is a good buy. it's not going to be, look, if you want a rail, i like ksu. remember that? someone downgraded it the other day. i think that was wrong. how about chris in my home state of pennsylvania, chris? >> caller: boo-yah from scranton, pennsylvania. >> what's going on? >> caller: not much, not much. i wanted to know what you think about lockheed martin. i saw the pentagon agreed to buy 30 of their s-35s. but the stock's down a little bit. i wanted to know what your take was -- >> all right. chris, this isn't dunder mifflin, it's a great company. it's only a dollar off th
brad in washington, brad? >> caller: hey, jim, merry christmas boo-yah from washington. >> kirkland, hey, i like kirkland brand from costco. >> caller: yes, indeed. well, i had a question about another pacific northwest company, gbx, green breyer. >> i think the stock is inexpensive. i don't know whether -- i don't know who comes back, but i've got to tell you, i do a lot of work with the railroads and we need a lot of cars. i think this is a good buy. it's not going to...
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Dec 12, 2012
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"washington journal" is live every day at 7:00 a.m. eastern. >> the white house was very controversial, as most things in america were. the man who designed washington city -- there was competition. he submitted a design for a palace. americans were not having a palace. it was not particularly odd inspiring. in fact, in 1821, a european diplomat told the congress it was neither large nor on inspiring. -- awe-inspiring. the congressman answered, the building served its purpose. if it were larger and more elegant, perhaps some president would be inclined to become its permanent resident. >> a former new york times book critic has gathered a few of her favorite white house photos. what sunday evening, at 7:30 eastern and pacific, on american history tv. >> the american enterprise institute heard from the incoming and outgoing chairman of the republican study committee today. they talked about what they would like to see in a tax and budget deal, and what is ahead for house republicans in the next congress. this is 50 minutes. >> i am deli
"washington journal" is live every day at 7:00 a.m. eastern. >> the white house was very controversial, as most things in america were. the man who designed washington city -- there was competition. he submitted a design for a palace. americans were not having a palace. it was not particularly odd inspiring. in fact, in 1821, a european diplomat told the congress it was neither large nor on inspiring. -- awe-inspiring. the congressman answered, the building served its purpose....
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Dec 26, 2012
12/12
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>> caller: washington redskins booyah p rg3 nation stand up. >> dan snooid ser your owner. have you thought about that at all? >> caller: i have a quick question. >> sure. >> caller: when the market is overbought, should i go for the long-term? >> when it's overbought, my own rule is that plus five, if we're very overbought, hey, take a pass. another time will come. however, you can get started small and hope it comes back if you just can't resist. sam in ohio. sam. >> caller: hey, jim. big glass city booyah to you. >> loving it what's up? >> caller: i got a question. i've been looking at a couple utility stocks, going with preferred instead of the common shares. i wanted to get your opinion on -- >> no, come on, man, we want upside. a lot of these utilities should have to be fabulous growth stocks, particularly in a growth economy. let's just open them outride, we'll do just fine. of course i want you in in market for the long run. you can't beat those high streakly traders. give me a break. i want long-term investing but that does not mean buy and forget. for the long hau
>> caller: washington redskins booyah p rg3 nation stand up. >> dan snooid ser your owner. have you thought about that at all? >> caller: i have a quick question. >> sure. >> caller: when the market is overbought, should i go for the long-term? >> when it's overbought, my own rule is that plus five, if we're very overbought, hey, take a pass. another time will come. however, you can get started small and hope it comes back if you just can't resist. sam in...
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Dec 22, 2012
12/12
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it has been a tumultuous day in washington. both sides apparently in a total deadlock in the fiscal cliff negotiations. president obama is expected to make a statement on where things stand at any moment here. and with a preview we have fox businesses peter barnes. he is at the white house. peter what do we expect to hear? >> well, melissa, right now the president is finishing up on meeting with sete democratic leader harryeid who came down here to try to talk with the president with some strategy moving forward to avert the fiscal cliff. we expect the president to say that he still wants to get a deal with republicans to do that. that is still going to be time. however, that they will have to do it after the christmass3 holiday. the president plans, is planning to go to hawaii for christmas with his family. speaker boehner has left town. gone back to ohio. for the holiday. the senate is expected to come back on, on december 27th, the thursday next week, which is the earlit that they would be expected to get back to work on thi
it has been a tumultuous day in washington. both sides apparently in a total deadlock in the fiscal cliff negotiations. president obama is expected to make a statement on where things stand at any moment here. and with a preview we have fox businesses peter barnes. he is at the white house. peter what do we expect to hear? >> well, melissa, right now the president is finishing up on meeting with sete democratic leader harryeid who came down here to try to talk with the president with some...